California Insurance Code

§ 1194.6

INS § 1194.6Div. 1 · Part 2 · Ch. 2 · Art. 4

Statute text

(a)Excess funds investments may be made by an insurer in bonds, notes, or other evidences of indebtedness payable in United States dollars, and issued by a corporation incorporated under the laws of an alien government provided all of the following conditions are met:

(1)All the stock of the corporation is owned and ultimately controlled by a domestic corporation.

(2)Payment in full of any bond, note, or other evidence of indebtedness is guaranteed by the domestic corporation.

…

Legislative history

Amended by Stats. 1991, Ch. 539, Sec. 11.